Qualtrics (XM) - Turnaround?

Very quick one for clarity.

Qualtrics (XM)

Reported earnings growth of 48% (YoY) yesterday. Clear acceleration from previous quarters of 38% and then 41%.

Never heard of them before so did some digging.

Company was bought by SAP in Jan 2019 and then went public in July 2020 with SAP retaining a majority holding.

We do not like to invest in turnarounds.

Because of this acquisition and then subsequent IPO/Sale by SAP, does this qualify as a turnaround, and as such should be avoided, or is it worth digging a little deeper?

Thanks in advance for any guidance.

1 Like